Finance
By: Shree1news, 09 JUL 2021
The country’s foreign exchange reserves rose to a lifetime high of $610.01 billion as of 2 July, compared with $609 billion a week earlier, the Reserve Bank of India (RBI) stated on Friday.
Within the previous week ended 25 June, 2021, the reserves had jumped by $5.066 billion to reach $608.999 billion.
Throughout the reporting week, the rise in the forex kitty was mainly on account of an increase in foreign currency assets (FCA), a major component of the overall reserves.
FCA surged by $748 million to $566.988 billion, according to the weekly data by the central bank.
Expressed in dollar terms, the foreign currency assets embody the effect of appreciation or depreciation of non-US units like the euro, pound and yen held within the foreign exchange reserves.
Gold reserves climbed $76 million to $36.372 billion within the reporting week.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) rose by $49 million to $1.548 billion.
India’s reserve position with the IMF too increased by $139 million to $5.105 billion in the reporting week, the RBI data confirmed.
Source:A-N
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